Acleda Bank Joins CSX
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Acleda Bank Joins CSX
Cambodia bourse sees first bank listing
published : 25 May 2020 at 16:10
writer: AFP
Cambodia's largest commercial bank listed on the country's stock market Monday, the first lender to trade on the fledgling exchange, despite uncertainty caused by the coronavirus pandemic.
Acleda Bank became the sixth firm to join the Cambodia Securities Exchange (CSX), which opened in 2011, joining a garment factory, two state-owned ports, and a special economic zone.
But initial fanfare for the kingdom's trading future has dimmed, with the country's lack of financial literacy and a dearth of eligible companies being major obstacles.
Acleda has been operating since 1993 and boasts assets of US$7.5 billion.
Its chairman and managing director In Channy said about 2,500 public investors became its shareholders Monday, opening a "new chapter" for Cambodia's financial sector.
He downplayed the risks of debuting on the CSX during the pandemic.
"We saw that our investors did not hesitate because of the trust in Cambodia, in Acleda Bank and in relevant authorities," In Channy said.
"If we were concerned, we would not have listed today."
Trading started at 16,200 riel (US$3.93) per share and closed at 16,500 riel.
https://www.bangkokpost.com/business/19 ... nk-listing
published : 25 May 2020 at 16:10
writer: AFP
Cambodia's largest commercial bank listed on the country's stock market Monday, the first lender to trade on the fledgling exchange, despite uncertainty caused by the coronavirus pandemic.
Acleda Bank became the sixth firm to join the Cambodia Securities Exchange (CSX), which opened in 2011, joining a garment factory, two state-owned ports, and a special economic zone.
But initial fanfare for the kingdom's trading future has dimmed, with the country's lack of financial literacy and a dearth of eligible companies being major obstacles.
Acleda has been operating since 1993 and boasts assets of US$7.5 billion.
Its chairman and managing director In Channy said about 2,500 public investors became its shareholders Monday, opening a "new chapter" for Cambodia's financial sector.
He downplayed the risks of debuting on the CSX during the pandemic.
"We saw that our investors did not hesitate because of the trust in Cambodia, in Acleda Bank and in relevant authorities," In Channy said.
"If we were concerned, we would not have listed today."
Trading started at 16,200 riel (US$3.93) per share and closed at 16,500 riel.
https://www.bangkokpost.com/business/19 ... nk-listing
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Re: Acleda Bank Joins CSX
3 month ago, I was like "let buy some shares then sell it after the opening" then covid hit, I'd make a profit of 300 riels (2%), not bad !
Don't forget the water buffalo
- CEOCambodiaNews
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- Posts: 62322
- Joined: Sun Oct 12, 2014 5:13 am
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Re: Acleda Bank Joins CSX
Acleda Bank celebrates successful entry at Cambodia’s Stock Exchange
By Xinhua Net - May 27, 2020
Cambodian commercial bank Acleda made its debut on the Cambodia Securities Exchange (CSX) on Monday after an initial public offering (IPO) raised US$17.5 million.
The locally-owned bank becomes the sixth equity-listed firm and is the first commercial bank that issued its IPO on the kingdom’s bourse.
The bank floated about 4.34 million shares, or one percent of its total shares, in which a share cost 16,200 riels (US$4.05), according to the bank’s data filed to the CSX.
In full: https://www.thestar.com.my/aseanplus/as ... k-exchange
By Xinhua Net - May 27, 2020
Cambodian commercial bank Acleda made its debut on the Cambodia Securities Exchange (CSX) on Monday after an initial public offering (IPO) raised US$17.5 million.
The locally-owned bank becomes the sixth equity-listed firm and is the first commercial bank that issued its IPO on the kingdom’s bourse.
The bank floated about 4.34 million shares, or one percent of its total shares, in which a share cost 16,200 riels (US$4.05), according to the bank’s data filed to the CSX.
In full: https://www.thestar.com.my/aseanplus/as ... k-exchange
Join the Cambodia Expats Online Telegram Channel: https://t.me/CambodiaExpatsOnline
Cambodia Expats Online: Bringing you breaking news from Cambodia before you read it anywhere else!
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